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convincing win over republican challenger mitt romney in the 2012 election. aides say obama has immediately turned to the so-called fiscal cliff of $700 billion in expiring tax cuts and automatic spending reductions set to take effect at the end of the year. under the terms of last year's debt deal, obama and senate democrats must agree on a deficit reduction package with house republicans or face automatic cuts that will likely contract the economy. on wednesday, both senate majority leader harry reid and house speaker john boehner pledged to negotiate in good faith. >> the american people want us to work together. republicans and democrats want us to work together. they want a balanced approach to everything, but especially the situation we have dealing with this huge deficit and taxes that are part of that. >> there is an alternative to going over the fiscal cliff. it involves making real changes to the financial structure of entitlement programs and reforming our tax code to curb special interest loopholes and deductions. by working together and creating a simpler, cleaner tax code, we
to worry about re-election today. still, there was little time to savor tuesday's victory, in the face of a potential fiscal crisis at the end of the year. "newshour" correspondent kwame holman begins our coverage on this day after the election of 2012. >> reporter: mr. obama departed his hometown of chicago this afternoon for washington, his home for another four years. waiting for him: a still- divided congress now facing a critical lame duck session. the president made it clear in his victory speech last night that he thinks the country wants an end to gridlock. >> tonight, you voted for action, not politics as usual. ( applause ) you elected us to focus on your jobs, not ours. and in the coming weeks and months, i am looking forward to reaching out and working with leaders of both parties to meet the challenges we can only solve together: reducing our deficit; reforming our tax code; fixing our immigration system; freeing ourselves from foreign oil. we've got more work to do. ( applause ) >> reporter: the most immediate challenge: avoiding the so- called "fiscal cliff" that looms
>> this is n.b.r. >> susie: good evening everyone. i'm susie gharib. a day after the election a massive selloff on wall street as investors worry about the status quo in washington. >> tom: i'm tom hudson. the election is over but the fiscal cliff, is just eight weeks away, and it will play into every decision the president makes until january first. >> susie: and the fiscal cliff is a big worry for business leaders. the c.e.o. of caesars entertainment, tells us it'll be "very damaging" for his company. >> tom: that and more tonight on "n.b.r."! wall street greeted the election results with a big sell-off in stocks. investors dumped shares of almost every type, giving the s&p 500 it's worst day since june. beyond the u.s. elections, europe also brought fresh worries for investors with concerns in greece, and germany. here's how the numbers stacked up on wall street. the dow lost 312 points, at it's worst point of the day, the blue chip index was down 369 points. the nasdaq tumbled nearly 75 points and the s&p 500 off 33. suzanne pratt takes a look at where the market goes from
, it closed below 13,000 and when you look at the broader markets, all were down 2.5%, so is the election really to blame? "outfront" tonight, michael farr, author of restoring our american dream. good to see you. i know there were a lot of markets often go down on the day after an election and they're worry about the fiscal cliff and europe. >> you really can't tell. certainly we had a couple of point run-up prior to the election and then this morning without the distraction of all of a political punditry and bluster, we see marcus all of a sudden come back down. perhaps investors confronted the fiscal cliff and what's going on in greece. they need another $40 billion. china's slowing and we've got 2% gdp growth. fairly tepid. >> the credit rating agencies, the we couldn't make a deal last time around. fitch was one of them just hours after the president was re-elected. said if they don't avoid the fiscal cliff, we're going to face another downgrade. they say hey look, the first downgrade, it still hasn't caused interest rates to surge. should we be? >> we saw the rates rally and go lowe
congressman elect jeffreys, a democrat from brooklyn. a professor at the school for social network. author of unintended consequences. a former partner at bain capital and molly, a reporter for a magazine who did phenomenal work. tuesday's election brought us not just a second term for president obama but a new congress as well. there are two ways to look at the make up of the congress. one is the endorsement of the status quo. asking the two to work together as house speaker john boehner put it the day after the election. >> the american people have spoken. they reelected president obama. they have again reelected a republican majority in the house of representatives. if there's a mandate in yesterday's results, it's a mandate for us to find a way to work together on the solutions to the challenges we all face as a nation. >> the other way to interpret the results is to see them as a resounding liberal governance. a larger and apparently more democratic majority in the senate. it's how harry reid framed the results. >> we had an overwhelming re-election of the president. we picked up seat
was real. though the timing is perhaps, perhaps suspect. one week ago. six days before the u.s. election. national security correspondent jennifer griffin is following this breaking story from the pentagon. >> reporter: at 4:50 a.m. november 1, days before the u.s. presidential election, two iranian su-25 frog foot fighter jets like these intercepted and fired twice upon an unmanned, unarmed u.s. m-2-1 predator drone over the persian gulf. it's the first time the iranians ever fired on a u.s. drone. the shots missed on both attempted. iran's fighter pilots briefly pursued the drone that landed safely at an undisclosed location. >> incident occurred over international waters. 16 nautical miles off the coastline. aircraft was never in iranian air space. it was always flying in international air space. the internationally recognized territorial limit is 12 nautical miles off the coast. we never entered the 12 nautical mile limit. >> asked whether the incident was an act of war, the pentagon spokesman said he would not legally label it. adding the state department had protested through the s
ballot voting delay to push right on the floor of the election. we don't know where the 29 electoral votes will go but have made every outcome of the presidential election. back to the topic here. what was your message to washington? a lot of newspaper articles this morning about the fiscal the cliff and that is what faces -- >> we will leave this portion of this morning's washington journal now to go live to the american enterprise institute for panel discussions on the election with fox news channel commentator michael barone, inside out columnist norman borkenstein and others. it is just beginning. this is live coverage from c-span2. >> to start the aei series in 1982. he is with us here today been lautenberg and the late richard scamen were the people to look at the intersection of democracy and public often opinion data in the 1970 book "the real majority." they told us how important changing demographics would be to future e elections come indigenous election de pass braking insights have been confirmed. latinos or a larger share of the electorate than four years ago, and they
] >> you bet. megyn: well, president obama may have won re-election, but we still don't know much, know by how much. that is because they are still counting the ballots down in florida. as of this morning just six-tenths of a percentage point separated the president and governor romney. most of the remaining ballots are from miami-dade county because there was a last minute wave of absentee ballots that have yet to be processed. if the president wins florida, it will increase his electoral count but not change the outcome of the election. after months of campaigning and hundreds of thousands of phone calls, washington looks very much the same. next hour, the same. how many segments, how many dollars, how many discussions? the same. next hour we're going to speak to karl rove to explain what he really thinks happened on tuesday. how did the republicans lose? and we will get his thoughts on that a couple days after. ♪ megyn: a major setback today for millions in the northeast still recovering from the last week's devastating hurricane sandy. powerful winds, rain and snow -- i mean, it w
now that the election is over. the list includes huge issues like taxes, the deficit, headline making overseas trip and a possible shakeup of his cabinet. let's get right to our chief white house correspondent jessica yellin. she's been doing some reporting. jessica, what are you learning? >> reporter: hi, wolf. first the reports that the president is going to be delivering a major speech on the economy or on the fiscal cliff are simply not true. no big speech planned for the coming days. the second piece -- i'll add to that that the president's team believes that they have laid out pretty clearly where the president stands on deficit reduction and how to avoid the fiscal cliff. and the next move now is for the republicans to say where they stand, what they're willing to give and to let negotiations take place to make some progress. the second piece, wolf, of news is pund its have been saying that the president was low on specifics in this campaign and may be true he didn't offer much by the way of detail, but he did outline an agenda. and here it is. while the details may be sparse,
and serious solutions. after the divisive election americans hope mr. obama will compromise and get america moving back in the right direction. we'll start with the happiest man on campus. my goodness, mr. bob beckel. >> bob: let me say a couple of personal things. i thought romney's speech was the most gracious concession speech i ever heard. he deserves credit for it. the second thing i thought about was my dad, a civil rights worker. he was not alive to see obama get elected and i was thinking how it would be to see him be real. i was happy about the democratic party staying together and particularly happy for every black kid in america. positives out of that for group of people. the voters vote and that's all i want to say. >> greg: will the black kid be happy if he doesn't get a job? >> kimberly: thank you for doing that, minute-35. >> greg: i love feel-good voting but if you don't fix problems of the country -- personally, we're officially plucked. america is plunging to european socialist experiment. the left wanted since fdr. will it work? they don't care that the income is getting
at 15%. plus, how g.o.p. economic policies could change as election day demographics change. that and more tonight on nbr! the u.s. economy would be driven into recession next year if the fiscal cliff is not solved in time. that's the warning again today from the congressional budget office. and the standard and poor's ratings agency said there's an increasing chance we will go over that cliff of tax increases and spending cuts. it puts the odds at 15%. still, s&p is optimistic about a solution, saying "the most likely scenario, in our view, is that policymakers reach sufficient political compromise in time to avoid most, if not all, potential economic effects of the cliff." both s&p and the congressional budget office warned unemployment would go over 9% by the end of next year if the cliff is triggered. those s&p comments hit the market in the last 30 minutes of trading, extending yesterday's sharp losses. the dow closed down 121 points, the nasdaq lost 41, and the s&p was off 17. the headlines of big sell-offs in the major stock averages only further erode confidence for
. >> woodruff: with the election over, there's new talk in washington about finally coming to grips with taxes, spending and the deficit. the mammoth problem has been hanging over congress and president for many months, and now, time is running out. in just five days, lawmakers troop back to the capitol for a final, lame-duck session. and they are under mounting pressure to avoid going off the much-talked-about fiscal cliff. come january 1, the bush-era tax cuts will expire as will a 2% payroll tax cut that was passed in december of 2010. at the same time, large automatic spending cuts would begin to bite-- 10% less for defense in 2013 and an 8% cut in domest programs. the result-- according to federal reserve chairman ben bernanke-- could be disastrous. he said this in july, citing the congressional budget office. >> the c.b.o. has estimated that if the full range of tax increases and spending cuts were allowed to take effect, a scenario widely referred to as the fiscal cliff-- a shallow recession would occur early next year and about one and a quarter million fewer jobs would be created in 2
>>> i have been warning you about it for months. now that the election is over, the fiscal cliff is finally getting some love. it's an economic storm of our own making that could trigger another recession and kill up to a million jobs next year if congress and the president don't act. i'm ali velshi. this is "your money." the elections are over. the american people have spoken. now it's time for washington to get to work. >> you elected us to focus on your jobs, not ours. >> that's because nothing is more important to our economic recovery than creating jobs. president obama says he'll add 12 million jobs over the next four years. but for his math to work, the pace of economic growth needs to pick up. with a crisis in europe and a slowdown in asia, an economic storm beyond our control stands ready to batter our shores. still, two years of consistent job growth prove we are heading in the right direction, but the fiscal cliff is one storm that will be of our own making unless washington acts. $7 trillion in across-the-board tax hikes and spending cuts over the next decade mandated
. victory lap. it was a modern american election. that gave president obama four more years. >> i believe we can seize this future together. >> how did a new patchwork of americans come together to give him the win? and force a tough gut-check moment for the republican party? >> paul and i have left everything on the field. we have given our all to this campaign. >> can they recover? and change with the changing america? what is the world saying tonight? how about wall street? and what did the president do today to help the country heal? now, two american families turn the page. the romneys, pulling together. the obamas starting a new chapter in this white house. and the abc news powerhouse team is everywhere, on this historic day for america. live, from abc's election headquarters, this is a special "world news" with diane sawyer. >> good evening. and it was a day of celebration for president obama and a day of soul-searching for the republican party. and a reality check for a nation, seeking to move forward as a hard-fought election. tonight, your voice has become your vote, and these are
defies a fragile economy and high unemployment to win the election, telling the american people the best is yet to come. >> appeals from angela merkel to her european partners -- an end to the eurozone debt crisis will require more unity. >> and a parliamentary vote on another round of austerity cuts in greece. >> thanks for joining us. barack obama has won his second term in office as president of the united states, but his celebrations will be short-lived as the multitude of urgent issues on his desk draws him back to work without delay. >> the first order of business will be to negotiate a new budget deal in congress by the end of the year. otherwise, and harsh plan of spending cuts and tax increases are due to go into effect. we will hear more about that later on in the show, but first, a look back at how things play out on election night in the u.s. >> his face said it all -- president barack obama had to fight hard to keep his job in a tough race against his republican challenger, but once the result was clear, his first message to the american people was one of unity. >> it does n
obama's election win? traders share their opinions later in traders unplugged. but first, in the wake of superstorm sandy, business owners are looking into disaster recovery options. learn how to protect yourself next, with bill moller. recently 2 east coast storms in 2 weeks. the weather can really wreak havoc, not just with lives of citizens, but also with the smooth operation of businesses. companies protect themselves, of course, with insurance, but more & more companies are implementing disaster recovery systems. let's talk with curtis peterson. he's vice president of operations for ringcentral, a cloud business phone system provider. and curtis, a business insures the hardware, but the point is they also need to back up the software, and that's what disaster recovery is all about. > > it sure is. and it's really backing up both. it's making sure that the hardware and is protected, and specifically the data on the systems is retained during any of these types of disasters that you mentioned. > > hurricane sandy took out a lot of businesses along the east coast and their systems.
election iran fires at a drone. why are we only finding out about this now? >> steve: weekend after hurricane sandy left thousands homeless . we are looking at where the homeless people are going . a massive tent city and we are there live on the friday bitterly cold morning. >> brian: they are opening up a place for them. outraged over the president doing first order of business should be to stick a fork in it. >> steve: stick a fork in it. >> brian: "fox and friends" starpts right now. >> steve: the reason i was struggling in a scramble. tomorrow is the marine's birthday and. and we have jiie whit lock pins. i will wear mine in the entire program. >> most people don't have the prive ledge of watching you get dressed. >> steve: what do you mean. >> putting things on. >> steve: nice ally. >> great to be back in the land of the light. >> brian: why are you taunting me? it is so bad on long island they are asking the defense department to take over. that's how bad the power authority is. when i say disaster, i am understating it. >> steve: you are. >> brian: and confusion . >> steve:
're going on two days now since the election with several house races still too close to call. it is not over yet, everyone. good morning. welcome to "early start," everyone. >> nice to have you with us. it is 5:00 a.m. in the east. up first, we're going to start with mother nature. she is showing absolutely no mercy. this morning the northeast is getting rocked again. it is a powerful nor'easter pounding a region already devastated by superstorm sandy. 600,000 people without power for nine days in new york and new jersey. some forced to evacuate or hunker down overnight in the face of 60 mile an hour winds, two to four foot storm surge and a half foot of snow. more than 1,000 flights were canceled in new york and philadelphia. the path train between new jersey and new york is back to limited service under the hudson river after being shut ahead of the storm. penn station in new york was closed for a while last night. but it is back open today. my goodness. we have team coverage of this untimely winter storm. suzanne candiotti is live in new jersey. first, we begin with rob ma
signs out in rochester, minnesota, supporting denny. >> denny, the late denny hanson. he was elected city council president. >> speaks of how highly he was respected. and the people liked his leadership. and liked what he did for the city. >> there will be a special election today in the next city council president. >> you think? >> our democracy. indeed. >> all right. >> congratulations, denny. >> we note the passing of a true college football legend. daryl royal, the man who put the university of texas, the longhorns on the map. >> he was known for his style and his devastating wishbone offense. it helped the long horns win 11 conference titles, ten cotton bowls, and royal's teams won or shared three national titles. >> friday night lights. he said once he got to texas he never would work for any other school. he died from complications from cardy vascular disease and was 88 years old. legend in football. coming up -- what was up with wall street yesterday or should say what was down? >> stocks started falling hours after the president's acceptance speech. we'll take a look at that
-- that a well-oiled machine could take an office boy and have him elected to the senate. he was so far over his head when he became vice president and the president, he had a recurring nightmare that the secret service would tell him that result was dead. he knew that he was not up for it. -- that roosevelt was dead. he knew that he was not up for it. he is clearly not capable. he tells everybody he meets with for the first two weeks that it is a terrible mistake, that he is not big enough, not smart enough, that somebody else should really become president. they told them he had to bulk up and at least believe that he could be present for everybody would lose faith. unfortunately, he makes the wrong decision and almost every case. he falls in line with the british thinking, with his anti- suited hard-liners who say that the soviet union are breaking -- anti-soviet hard-liners who say that the soviet union are breaking all of their agreements. truman took this hard-line that the soviets were cheating and breaking their agreements and it took a steadily down the path toward confrontation, with r
't solve the problem of our fiscal imbalance overnight. >> the elections are over. the threats to our economy are not. time to get to work. and there is lots of work to be done. starts with averting the disaster of our own making. i repeat that. the fiscal cliff. we've got it covered frommive angle. christine romans is host of "your bottom line," richard quest of "quest means business," david walker spent a decade oversaeg the federal government, how it spends your tax dollars as the u.s. comptroller general. today he's the ceo of come back america. he's an unapologetic deficit hawk. mohammed al arian is the ceo of pim he could. his firm is the largest investors in bonds. and stephen moore is the founder of the low tax advocacy group club for growth. i'm going to start with you, stephen. my good friend, the fiscal cliff is the immediate threat both parties need to come together to fix it because not fixing it would set even conservative fiscal causes back, don't you agree? >> yeah. i think most republicans agree. they don't want to go off this fiscal cliff either, ali. i think the one
night. he didn't want to go to bed until the election was final. that was about 3:00 p.m. he never got a concession call from pete stark, but today stark issued a statement conceding the race. >> one journey ended last night, a new journey starts today and that's to go to congress and finish what we started. >> he's hoping to help with the gridlock in washington, which will not be easy considering the balance of power between democrats and republicans after the election remains the same. but swalwell says some new, young energy in congress could help. >> a 31-year-old on congress will be the youngest, most inexperienced congress in the history of congress. i see that not as a liability but as an opportunity. >> he turns 32 next week and he will be the second youngest member of congress after eric swock of illinois. they criticized him az rookie during the campaign. >> he routinely called me a rookie, but we embraced that because we believe a rookie is what congress needs right now. >> the 80-year-old congressman who was first elected in 1972 did not reply to a request for interviews to
Search Results 0 to 49 of about 145 (some duplicates have been removed)